Midterm Review Flashcards
What are the 4 stages of implamenting a market strategy?
- Identifying and evaluating market opportunities
- Analyzing market segments and selecting target markets
- Planning and implementing a marketing mix that will provide value to customers and meet organizational objectives
- Analyzing firm performance
Experiment:
: a carefully controlled study in which the researcher manipulates a propsed cause and observes any corresponding change in the proposed effect
Deliverables
the consulting term used to describe research objectives to a research client
Research Proposal
– a written statement of the research design emphasizing what the research will accomplish
What is Exploratory Research and give an example
Useful in new product development,
Condiucted to clarify ambiguous situations or discover ideas that may be potential business opportunities
What is descriptive research?
Describes characteristics of objects, people, groups organizations or environments
Descriptive research often helps to…
Describe market segments. What does the organic food market look like?
What is causal research?
Allow casual inferences to be made- they identify cause and effect (x and Y relationship)
Causal research should do all of the following…
- Establish the appropriate causal order or sequence of events
- Measure the concomitant variation (relationship) between the presumed cause and the presumed effect
- Examine the possibility of spuriousness by considering the presence of alternaive plausible causal factors
Exploritory and or descriptive research usually preceed to…
Causal research!
What are 2 examples of when to use exploritory research?
Our sales are declining for no apparent reason
What kinds of new products are fast-food customers interested in
What are 2 examples of descriptive research?
What kind of people patronize our stores compared to our primary competitor?
What product features are most important to our customers?
What are 2 examples of casual research
Will customers buy more products in a blue package?
Which of two advertising campaigns will be more effective?
What are the stages of the research process?
- Defining Research Objectives
- Research design
- Sampling
- Data collection
- Data Analysis
- Conclusions and Reporting
Qualatitive marketing research is research that address…
Marketing objectives through techniques that allow researchers to provide elaborate interpretations of market phenomena without depending on numerical measurement
Qualititve Research is usually used in…
Exploritory Research with general research objectives
Quantitiative Research is meant to measure and test while qualititve is meant to…
Observe and interpret
Hermeneutic is…
an approach to understanding phenomenology that relies on analysis of texts through which a person tells a story about him or herself
List some qualititve research approaches?
Focus group interviews Depth Interviews Conversations Semi-Structrued Interviews Word Association/ Sentence Completion Observation Colleges Thematic Appreception
What is the difference between conversations and depth interviews?
Depth Interviews are one-on one probing interview while a conversation is simply unstructured dialogue recorded by a researcher
What are semi-structred interviews?
Open ended questions, often in writing that ask for short essay type answers from respondednts
Researchers often use focus group interviews for….
Concept screening and concept refinement